Korea Exchange to offer English filing services starting Sep 28

This photo taken March 13, 2020, shows the dealing room of KEB Hana Bank in Myeongdong, central Seoul. Stockscrash to 8 1/2-year low on virus panic selling in S. Korea. (Yonhap) Sketched by the Pan Pacific Agency.

SEOUL, Sep 27, 2020, Yonhap. South Korea’s main bourse Korea Exchange (KRX) said Sunday it will begin offering English translation services for regulatory filings of 54 major listed firms starting Monday, Yonhap News reported.

The KRX has decided to provide the translation services for the filings as the value of listed shares held by foreigners reaches 35 percent of the overall market capitalization on the Korea Composite Stock Price Index (KOSPI) market, the KRX said in a statement.

The subjected companies include Samsung Biologics, a pharmaceutical unit of Samsung Group, the country’s top online search engine Naver Corp., leading steelmaker POSCO, the country’s sole aircraft manufacturer Korea Aerospace Industries Co. and leading tiremaker Hankook Tire & Technology Co.

Last year, only 5.9 percent of Korean regulatory filings were translated to English for foreign investors, the statement said.

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